I want to call them ASAP and was hoping someone could give me tips on what questions I should be asking and to whom I should be speaking.

Hey BP, Does anyone have any tips using public records for pre for-closures ?

The key word you mentioned is "Basic".  

Currently looking at a multifamily property.Purchase Price- $371,000Rental Income- $310025%  down with taxes/ insurance makes mortgage -$2,040The property is turn key and has been fully redone over the past two years.Is this a good deal?

Light and portable are key.

I would be glad to hear any tips from people who are local to the area or have invested there.

For example, if Memphis has a lot of turn key activity, is there also a banking / financing scene in that same geographic area that caters to the industry?

any general tips?

Both tenants looked to take good care of their spaces - house was in fantastic condition.David -- from the research I've done in the area the rent he currently charges seems on par - but I am totally going to check out rentometer - thanks so much for the tip.

The VA also has a one-time close construction loan SF only, this is a beautiful tool if you find a lot that needs a house, the builder takes all the risk and you just sign papers and get a key- if done correctly it would be a home run- I see on Zillow today a three lot sub for $183K in Chula Vista if you have other VA friends you might get a great deal from a builder.